General Electric kept $108 Billion overseas last year to avoid taxes

[Rarely-Wrong Liggins]

The first sentence you quoted has nothing to do with the second sentence you quoted. I understand that the US is missing out on the money. That doesn't change the fact that people don't really understand what these companies are doing with the money. Its not just sitting in a bank. Instead, they're revesting in foreign companies instead of bringing it back and investing in US companies.

Um........is that somehow better?

 

[OH SOHH TRILL]

Um........is that somehow better?

dont know if its better. I just wanted to clear up the misconception that the money was just chillin in a caymans account. Its not. Its invested in foreign subsidiaries instead of on US subsidiaries.

 

[Bolzmark]

GE has been doing this for years. That is why it was such a hypocritically tone deaf move when Obama made GE CEO, Jeffery Imelt as the head of his economic advisory board.

I disagree. These corporations only do what American law ALLOWS them to do. Why not get one of these smart money-making guys to instead, help the U.S.?

Thats almost like calling a team owner a hypocrite for going out and getting the superstar that has been winning championships and eliminating his team from the playoffs. Now that superstar plays for you.

 

[You Win Perfect]

Seventy-eight of the 280 companies paid zero or less in federal income taxes in at least one year from 2008 to 2010…In the years they paid no income tax, these companies earned $156 billion in pretax U.S. profits. But instead of paying $55 billion in income taxes as the 35 percent corporate tax rate seems to require, these companies generated so many excess tax breaks that they reported negative taxes (often receiving outright tax rebate checks from the U.S. Treasury), totaling $21.8 billion. These companies’ “negative tax rates” mean that they made more after taxes than before taxes in those no-tax years.

 

[Box Cutta]

Some people deserve to have their throats cut.

 

[Real N Quotes]

GE has been doing this for years. That is why it was such a hypocritically tone deaf move when Obama made GE CEO, Jeffery Imelt as the head of his economic advisory board.

entrepreneurship is the only way out of the american black hole of debt and taxes

 

[killacal]

Seventy-eight of the 280 companies paid zero or less in federal income taxes in at least one year from 2008 to 2010…In the years they paid no income tax, these companies earned $156 billion in pretax U.S. profits. But instead of paying $55 billion in income taxes as the 35 percent corporate tax rate seems to require, these companies generated so many excess tax breaks that they reported negative taxes (often receiving outright tax rebate checks from the U.S. Treasury), totaling $21.8 billion. These companies’ “negative tax rates” mean that they made more after taxes than before taxes in those no-tax years.

But this is America everyone has a chance to be rich no need to complain go invent something

 

[CrimsonTider]

I do t really know what can be done about this

These companies have to pay foreign taxes on the profits and they get a credit in US taxes for foreign taxes paid

The US can't tax money made in another country

 

[CurrencyChase]

typical troll. A serious one lol.

Stop posting. You're not contributing anything to the discussion at hand.















































typical dumb nikka

 

[Xtraz2]

all I can do is at this point

These companies reap the benefits of this country but do t want to give anything back to the country that allowed them to be successful

tha poor get poorer and tha rich get richer